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Updated about 7 years ago,

User Stats

30
Posts
5
Votes
Steve Crisp
Pro Member
  • Investor
  • CHESAPEAKE, VA
5
Votes |
30
Posts

Out of state property

Steve Crisp
Pro Member
  • Investor
  • CHESAPEAKE, VA
Posted

Father passed away. Mom is relocating to another state and moving out of the family home. Home is in St. Louis and currently has a mortgage loan of $17grand remaining and is worth $42 grand according to Zillow but has lots of needed repairs (electrical, heating/cooling, kitchen, bathroom, roof, and deck) I'm guessing another $20 grand at least in repairs/upgrade. I'm located in Virginia and the out of state issue is also a problem. Its a 13 hour drive and $400-600 plane ticket depending on the date. Thinking I should advise her to sell it or let it go into foreclosure. Concerned about taking on this project so far away with so much work to be done and think letting it go into foreclosure is the best decision to make but cant seem to make a decision and since I just joined this site, I was wondering what would a more experience BiggerPocket member do. Any feedback?

Steve

  • Steve Crisp
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